But the Fiberals have a plan,... they are going to raise funds by auctioning of rights to sell booze in grocery stores, which by the way,...in typical civil servant fashion of short sightedness and greed, the union publically disagrees with,...and selling Hydro One,...so know worries.How long before the start of the Ontario Bankruptcy?
We shall see.But the Fiberals have a plan,... they are going to raise funds by auctioning of rights to sell booze in grocery stores, which by the way,...in typical civil servant fashion of short sightedness and greed, the union publically disagrees with,...and selling Hydro One,...so know worries.
FAST
Two years after interest rates start to riseI think the way we are going...we have about 5 years before the big crash here.
Says the commie in waiting,...!!!We're already Bankrupt. So is the rest of the Country and the World. It's called "fiat currency" and "usury". Mathematically in a system built upon debt there reaches an inflection point where the interest and the debt owing overwhelms the system. We jumped the shark a long time ago. There will be a massive crash. A massive War. Or both. I suspect both.
BS
Not in our lifetime.How long before the start of the Ontario Bankruptcy?
If you're talking about Bill Davis, I agree. Mike Harris really fucked the province over and was one of the worst fiscal managers EVER, incurring huge future costs in the name of making short-term spending look better than it was, hiding vast debts with accounting tricks, etc., implementing "reforms" that turned out to be expensive boondoggles. However, in the first few years McGuinty did clean up most of the Harris mess, so that's not why we're in trouble now. (Though, it's still why Toronto is in trouble.)The Province of Ontario is still a long way from bankruptcy, even though we're farther away from solvency than ever before.
We were in very good financial shape after decades of Progressive Conservative governance, and had largely recovered from years of NDP (and Liberal) governance, but the current Liberal government is bent on selling the furniture to pay their friends.
It will take decades to recover from this mess.
You can't seriously believe this drivel. Blaming Ontario collapse on Federal conservatives economic policy and Mike Harris who hasn't been in power for over a decade. Talk about ridiculous. The blame squarely lies on the shoulders of the Liberals who have seriously mismanaged the economy through green energy policy, investing tax dollars in GM (instead of Honda or Toyota), wasting billions of taxpayer dollars and not taking the labour productivity concerns of the past two decades more seriously.If you're talking about Bill Davis, I agree. Mike Harris really fucked the province over and was one of the worst fiscal managers EVER, incurring huge future costs in the name of making short-term spending look better than it was, hiding vast debts with accounting tricks, etc., implementing "reforms" that turned out to be expensive boondoggles. However, in the first few years McGuinty did clean up most of the Harris mess, so that's not why we're in trouble now. (Though, it's still why Toronto is in trouble.)
The real problem for Ontario has been the Harper government, with its pro-oil outlook that absolutely trashed the manufacturing economy in Canada on which Ontario is based. His policies favouring oil exports in every case without any compensating currency control resulted in wild currency swings that pushed manufacturers out of business. It's called "dutch disease".
Now that the price of oil is low we're like the dog with a bone who saw his reflection in the pool -- we lost both. No oil revenue. No manufacturing. Gee, thanks Harper!
Please work on your English comprehension skills, read this again, looking up the words as you need to, and don't be afraid to ask for help: "However, in the first few years McGuinty did clean up most of the Harris mess, so that's not why we're in trouble now."You can't seriously believe this drivel. Blaming Ontario collapse on Federal conservatives economic policy and Mike Harris who hasn't been in power for over a decade. Talk about ridiculous. The blame squarely lies on the shoulders of the Liberals who have seriously mismanaged the economy through green energy policy, investing tax dollars in GM (instead of Honda or Toyota), wasting billions of taxpayer dollars and not taking the labour productivity concerns of the past two decades more seriously.
You don't think Ontario's Manufactoring has gone the way of other rust belt States in the US? Wouldn't that be hard to blame on Harper? I would say that the petro loonie didn't help.If you're talking about Bill Davis, I agree. Mike Harris really fucked the province over and was one of the worst fiscal managers EVER, incurring huge future costs in the name of making short-term spending look better than it was, hiding vast debts with accounting tricks, etc., implementing "reforms" that turned out to be expensive boondoggles. However, in the first few years McGuinty did clean up most of the Harris mess, so that's not why we're in trouble now. (Though, it's still why Toronto is in trouble.)
The real problem for Ontario has been the Harper government, with its pro-oil outlook that absolutely trashed the manufacturing economy in Canada on which Ontario is based. His policies favouring oil exports in every case without any compensating currency control resulted in wild currency swings that pushed manufacturers out of business. It's called "dutch disease".
Now that the price of oil is low we're like the dog with a bone who saw his reflection in the pool -- we lost both. No oil revenue. No manufacturing. Gee, thanks Harper!
You do not have a clue what you are speaking of if you think you can misdirect blame for what Dalton / Wynne have done here.If you're talking about Bill Davis, I agree. Mike Harris really fucked the province over and was one of the worst fiscal managers EVER, incurring huge future costs in the name of making short-term spending look better than it was, hiding vast debts with accounting tricks, etc., implementing "reforms" that turned out to be expensive boondoggles. However, in the first few years McGuinty did clean up most of the Harris mess, so that's not why we're in trouble now. (Though, it's still why Toronto is in trouble.)
The real problem for Ontario has been the Harper government, with its pro-oil outlook that absolutely trashed the manufacturing economy in Canada on which Ontario is based. His policies favouring oil exports in every case without any compensating currency control resulted in wild currency swings that pushed manufacturers out of business. It's called "dutch disease".
Now that the price of oil is low we're like the dog with a bone who saw his reflection in the pool -- we lost both. No oil revenue. No manufacturing. Gee, thanks Harper!
You have NO clue what about you are spinning here.Please work on your English comprehension skills, read this again, looking up the words as you need to, and don't be afraid to ask for help: "However, in the first few years McGuinty did clean up most of the Harris mess, so that's not why we're in trouble now."
Certainly our Federal government's anti-manufacturing, pro-oil policy is a major factor in the decline of Ontario industry. No one would say that is the only problem (manufacturing in nearby US states is equally struggling) but it certainly is one of the problems. Much more of an impact than anything the Ontario government has done. And if you bring up energy prices I will slap you silly since industry is migrating to countries with HIGHER energy prices.
Between the day a factory receives a large order, and the day it sells it, there is a substantial time gap. An unstable petro-dollar creates huge currency risk -- just in the last couple of months a 20% shift in prices. No manufacturing business can thrive in a climate where its revenues on an order fluctuate by 20% due to factors beyond its control! And that is the impact of the oil policies pursued by the Federal government. They could have taken steps to neutralize the impact of oil on the dollar, to protect other industry, but that's not what the string pullers in Calgary want Harper to do.
None of which has a damned thing to do with the topic. We are discussing the fate of manufacturing business in Ontario, not the Ontario budget.You do not have a clue what you are speaking of if you think you can misdirect blame for what Dalton / Wynne have done here.
These two morons spent like drunken sailors on shore leave without any regard for where the $ was coming from
Just look at the debt to GDP ratio
http://www.ofina.on.ca/borrowing_debt/borrowhistory.htm
It was 27.1% when the liberals came to power in 2002, now after 13 years of liberal mismanagement it is almost 40%.
That is unsustainable and will result in a series of very bad outcomes for the fools who voted Wynne (along with the rest of the province)
Sorry but it is a solid fact that the petro dollar has resulted in huge currency swings that seriously destabilize industry. Whether you like it or not. Now go off and ride your anti-Wynne hobby horse on another thread, Harper owns this one.Blaming PM Harper for Ontario's lack of competitiveness and inability to retain manufacturing is both inaccurate and without basis.
If you think that the Federal government had nothing to do with the quantity of oil exported you are delusional. How do you think oil gets out of the country? Do you think it grows wings and flies on its own? No. It goes out in pipelines and trains, all of which required Federal regulatory approval. One of many zillions of approvals that were required.We have a commodity which was in demand. The market drove up the loonie because our resource was being bought
It's the volatility that kills manufacturing. Looking over the past six months or so, I see ENORMOUS volatility. Don't you?Now if it was simple matter of the currency, then why has the manufacturing sector not rebounded as the loonie depreciated, Einstein ??
It's a simple fact that volatility has increased with oil exports, and for an obvious reason: the price of oil is volatile. What is important to exporters is not the absolute value of the dollar, but its predictability. If the dollar climbs slowly up to $1.10 in a predictable way that can be planned for (you can price your exports appropriately even though you won't ship for 6 months). If the dollar climbs by 25% in a half year that's a whole other ballgame -- it leaves you having no real idea what price you will get for your products, or how much you will pay for imported parts.As far a the dollar fluctuating,...its been doing that for ever,...as low as .65 and as high as $1.10,...well before oil had ANY influence on the CDN $.
Wrong again Fuji the Fool, check the title of the thread.None of which has a damned thing to do with the topic. We are discussing the fate of manufacturing business in Ontario, not the Ontario budget.
Once again you have your head up your assSorry but it is a solid fact that the petro dollar has resulted in huge currency swings that seriously destabilize industry. Whether you like it or not. Now go off and ride your anti-Wynne hobby horse on another thread, Harper owns this one.
They facilitate requests to transport as per the demands of the marketIf you think that the Federal government had nothing to do with the quantity of oil exported you are delusional. How do you think oil gets out of the country? Do you think it grows wings and flies on its own? No. It goes out in pipelines and trains, all of which required Federal regulatory approval. One of many zillions of approvals that were required.
See above idiotMoreover the government is entirely capable of implementing currency policies that would neutralize the impact of oil sales on currency.
It is far more simple than thatIt's the volatility that kills manufacturing. Looking over the past six months or so, I see ENORMOUS volatility. Don't you?
Ha HaDo some research on dutch disease (google it) and come back and post some more on this thread when you have been educated a little better than you are.